Charity registration number 1170443 (England and Wales)
UK INDIA CHARITABLE TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
UK INDIA CHARITABLE TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Charity number (England and Wales)
Principal address
Mr M Singadia MrAS Sahib Mr R Allen 1170443 3 Norbreck Parade Willesden London NW10 7HR
Accountants
Goldblatts 4th Floor 4 Tabernacle Street London EC2A 4LU
UK INDIA CHARITABLE TRUST
CONTENTS
Page Trustees’ report 1-2 Accountants’ report 3 Statement of financial financial activities 4 Balance sheet 5 Notes to the financial statements 6-9
Trustees’ report Accountants’ report Statement of financial financial activities
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UK INDIA CHARITABLE TRUST
TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their annual report and financial statements for the year ended 31 December 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the trust's Constitution, the Charities Act 2011 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)
Objectives and activities
The trust's objects are to provide charitable support across UK and India (area of benefit) through:
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the prevention or relief of poverty by providing grants, items and services to individuals in need and/or charities or other organisations working to prevent or relieve poverty,
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- assisting in the treatment and car of persons suffering from mental illness, physical illness or sensory impairment of any description (e.g. depression, blindness etc.), or in need of rehabilitation as a result of such illness, by the provision of facilities for work and recreation;
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- the relief of the sick, poor living, either generally or individually, through the provision of grants, goods or services (e.g. housing provision, food parcels, etc.)
The policies adopted in furtherance of these objects are set out in the attached notes to the accounts
Public benefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the trust should undertake.
We have referred to the guidance contained in the Charities Commission's general guidance on Public Benefit when reviewing our aims and objectives and in planning future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.
Achievements and performance
Significant activities and achievements against objectives The majority of the performance targets set in the Charity's business and service plans were met.
During the year, the charity assisted an Indian charity in the UK.
Financial review
Details of our income and expenditure are set out in the Statement of Financial Activities (SOFA). The total incoming resources for the year amounted to £3,175 (2023: £500). With total costs of £830 (2023: £2,458), this resulted in a net surplus (2023: deficit) for the year of £2,345 (2023: £1,958).
The Charity continues to maintain a sound financial base.
Reserves policy
It is the policy of the trust that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month's expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the trust's current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Major risks
The trustees have assessed the major risks to which the trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
Structure, governance and management
The trust is a Charitable Incorporated Organisation (CIO) and established its Constitution on 29 November 2016.
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UK INDIA CHARITABLE TRUST
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees who served during the year and up to the date of signature of th
e financial statements were: oo
Mr M Singadia Mr AS Sahib Mr R Alien
Recruitment and appointment of trustees All new trustees are appointed for a term of three years by a resolutiobn passed r is twelve. the charity's trustees. The minimum number of trustees at any one time is three ps the nent number te wen of None of the trustees has any beneficial interest in the ClO. All of the WieIeeS are names Of Bie CIO and guarantee to contribute £1 in the event of a winding up.
Relationship with related parties The charity is a ClO and details of related parties are given in the notes to the accounts.
The trustees’ report was approved by the Board of Trustees.
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Mr M Singa Chairman Date: zlalzs.. .
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UK INDIA CHARITABLE TRUST CHARTERED ACCOUNTANTS’ REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF UK INDIA CHARITABLE TRUST FOR THE YEAR ENDED 31 DECEMBER 2024
in order to assist you to fulfil your duties under the Charities Act 2011, we have prepared for your approval the financial statements of UK India Charitable Trust for the year ended 31 December 2024, set out on pages to 9 from the charity's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https:/Awww.icaew.com/regulation.
This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of UK India Charitable Trust and state those matters that we have agreed to state to the chanity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume - responsibility to anyone other than UK India Charitable Trust and the charity's trustees as a body, for our work or for this report.
It is your duty to ensure that UK India Charitable Trust has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of UK India Charitable Trust. You consider that UK India Charitable Trust is exempt from the statutory audit requirement for the year, and is not required to obtain an independent examiner's report.
We have not been instructed to carry out an audit or a review of the financial statements of UK India Charitable Trust. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Goldblatts
Chartered Accountants
4th Floor
4 Tabernacle Street London EC2A 4LU __ Date: 314) 2e2S
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UK INDIA CHARITABLE TRUST
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2024 | 2023 | ||
| Notes | £ | g | |
| Income from: Donationsandlegacies |
3 | aie | 500 |
| Total income | 3,175 | 500 | |
| Expenditure on: Charitable activities |
4 | 830 | 2,458 |
| Totalexpenditure | 830 | 2,458 | |
| Netincome/(expenditure) andmovement Infunds | 2,345 | (1,958) | |
| Reconciliation offunds: | |||
| Fund balances at 1 January2024 | 51,396 | 53,354 | |
| Fundbalancesat31December2024 | 53,741 | 51,396 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure
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UK INDIA CHARITABLE TRUST
BALANCE SHEET AS AT 31 DECEMBER 2024
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2024 2023
Notes £ £ £ £
CurrentCash at bank assets and in hand 53,861 51,516
Creditors: amounts falling due within 10 (120) (120)
one year
53,741 51,396
Net current assets
TheUnrestricted funds of funds the trust 11 53,741 51,396
53,741 51,396
The financial statements were approved by the trustees on24/25.
Chairman Chairman
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UK INDIA CHARITABLE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
4 Accounting policies
Charity information UK India Charitable Trust is a Chantable Incorporated Organisation (CIO) 1.1 Bastls of preparation ; The financial statements have been prepared in accordance with the trust's Constitution, the Charities Act 2011 and ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The trust is a Public Benefit Entity as defined by FRS 102.
The trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the trust. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial statements.
1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 income Income is recognised when the trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise[if][ the][trust][ has][been][notified][of][ an][impending][distribution,][the] amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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1.6 Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes VAT which
cannot be fully recovered, and is reported as part of the expenditure to which it relates.
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UK INDIA CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
1 Accounting policies (Continued) Costs of generating funds comprise costs associated with attracting voluntary income and the costs of trading for fundraising purposes Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both the costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Govemance costs include those costs associated with meeting the constitutional and statutory requirements of the Charity and include the professional fees and costs linked to the strategic management of the Charity.
Overhead and support costs have been allocated as a direct cost or apportioned on an appropriate basis between the Charitable Activities, Costs of Generating Funds and Governance Costs. Once allocation and/or apportionment of overhead and support costs has been made between Charitable Activities, Costs of Generating Funds and Govemance Costs, the cost attributable to Charitable Activities is apportioned across those activities in proportion to total spend.
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1.6 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
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2 Critical accounting estimates and judgements
In the application of the trust's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 —— Income from donations and legacies
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|||||
|---|---|---|---|
|Unrestricted|Unrestricted|
|funds|funds|
|2024|2023|
|£|£|
|Donations and|gifts|3,175|500|
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UK INDIA CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
4 Expenditure on charitable activities
| Main | Main | ||
|---|---|---|---|
| charitable activity |
charitable activity |
||
| 2024 | 2023 | ||
| 4 | £ | ||
| Direct costs | |||
| Grant funding of activities (see note 5) | 10 | 2,338 | |
| Share ofsupport and governancecosts (see note 6) Governance |
120 | 120 | |
| 830 | 2,458 | ||
| Analysis by fund | |||
| Unrestncted funds | 830 | 2,458 | |
| § | Grants payable | ||
| Main charitable activity |
Main charitable activity |
||
| 2024 | 2023 | ||
| £ | £ | ||
| Grants to institutions (1 grant): | |||
| SSP Community UK | 710 | - | |
| Grants to individuals | - | 2,338 | |
| € | Supportcosts allocated to activities | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Governance costs | 120 | 120 | |
| Analysed between: | |||
| Maincharitableactivity | 120 | 120 |
€
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the trust during the year.
of.
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UK INDIA CHARITABLE TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024
8 Employees
| The average monthly number ofemployees during the yearwas | |||
|---|---|---|---|
| 2024 | 2023 | ||
| Number | Number | ||
| Total | - | ||
| - | |||
| Therewere noemployees during the year or prior year. | |||
| Therewere noemployeeswhose annual remunerationwasmorethan £60,000. | |||
| 9 | Taxation | ° | |
| The charity isexemptfrom taxationon itsactivitiesbecause all itsincome isapplied | forcharitablepurposes. | purposes. | |
| 10 | Creditors: amountsfallingduewithin oneyear | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Accrualsand deferred income | 120 | 120 | |
| 11 | Unrestrictedfunds |
| Theunrestrictedfundsofthecharitycomprisetheunexpended balancesofdonationsandgrantswhichare not subjecttospecificconditionsbydonorsandgrantorsastohowtheymaybeused.Theseinclude designated fundswhichhavebeen setasideoutofunrestricted fundsbythetrusteesforspecificpurposes. |
Theunrestrictedfundsofthecharitycomprisetheunexpended balancesofdonationsandgrantswhichare not subjecttospecificconditionsbydonorsandgrantorsastohowtheymaybeused.Theseinclude designated fundswhichhavebeen setasideoutofunrestricted fundsbythetrusteesforspecificpurposes. |
Theunrestrictedfundsofthecharitycomprisetheunexpended balancesofdonationsandgrantswhichare not subjecttospecificconditionsbydonorsandgrantorsastohowtheymaybeused.Theseinclude designated fundswhichhavebeen setasideoutofunrestricted fundsbythetrusteesforspecificpurposes. |
|---|---|---|
| At 1 January Incoming 2024 resources |
Resources expended |
At 31 December |
| 2024 | ||
| £ £ |
£ | £ |
| Generalfunds 51,396 3,175 |
(830) | 53,741 |
| Previousyear: At1 January Incoming 2023 resources |
Resources expended |
At31 December |
| 2023 | ||
| £ £ Generalfunds 53,354 500 |
£ (2,458) |
£ 51,396 |
12 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
ee -9.
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